Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board
Chapter 2 – Accounts of ‘Not for Profit’ Concerns [Latest edition]
The Form of Organization providing services to society only. – Not for profit concern
An account which is prepared by Not for Profit concern instead of Profit and Loss Account. – Income and Expenditure Account.
Donation received for a specific purpose. – Specific donation / Capital receipt
The receipts which are not recurring in nature. – Capital Receipt
The income which is earned during the year but not received during the year. – Outstanding income.
All such receipts which are non-recurring in nature and not forming a part a regular flow of income. – Capital receipts